Ecofav: Helping Clients Navigate Global Sustainability Challenges at the Operational Level

Sanjay Sharma, CEO ,Arti Sharma, Director of Operations, Shikha Gupta, Head - ESG DivisionNowadays, enterprises are under immense from regulators as well as from the society for greater transparency around the actions taken to integrate Environmental, Social, and Governance (ESG) factors in the investment, decision making, and the way they operate. This trend can be witnessed throughout the industries, in the form of statements from leading investors like International Finance Corporation (IFC), U.S. International Development Finance Corporation (DFC), The World Bank Group, and initiatives like the Task Force on Climate-related Financial Disclosures (TCFD) and Principal for Responsible Investment (PRI).

This is where ECOFAV works with leading organizations worldwide across key industry verticals that include Power, Oil and Gas, Ports, and Special Economic Zones, Agri-Logistics, Mining, and Manufacturing to address some of the complex sustainability problems. Established in the year 2017, Ecofav has enjoyed robust business growth both in terms of customer trust, revenue, and profitability, in a short span of three years. During the FY 2019 ­ 2020 alone, ECOFAV delivered more than 200 ESG assignments for the government and Indian & overseas corporate clients alike.

ECOFAV takes a fully integrated, multidisciplinary approach to work
Teams are assembled from across the offices on a project by project basis, ensuring the right expertise is brought to bear on each project.

The company practices a unique approach towards delivering assignments instilling a sense of confidence in the clients: Ecofav achieves this by:

Assessing strategic direction ­ It involves helping clients understand the changing business context for sustainability, engaging leaders (from the Board to operational management) in defining the case for change, and setting up a new direction aligned with a robust and integrated sustainability strategy.

Disclosing effectively ­ Ecofav Applies proven methodologies and strategic frameworks, such as the Global Reporting Initiative (GRI) and the Integrated Reporting , to assess the clients' materiality, drive robust reporting, and respond to investor surveys from organizations such as Carbon Disclosure Project (CDP), Dow Jones and Sustainalytics. The company's end-to-end expertise includes writing, graphic design, development, and production - regardless of framework, audience, or format. Further, the design team is experienced in digital accessibility to reach people of all backgrounds and abilities. Besides, Ecofav offers specialist scenario analysis and risk assessment to meet growing investor demand for disclosure around climate change, particularly around the Task Force on Climate-related Financial Disclosures (TCFD).

Driving change ­ Ecofav combines business process transformation with advanced technology and with a team having deep subject matter expertise to help clients operationalize sustainability - notably environmental, social, and governance (ESG) factors - into their organizations to help drive continuous improvement.

As one of the United Nations Global Compact signatories, Ecofav strives to embrace its core values, guiding principles, and promoting these values within its sphere of influence. "We intend to continue our engagement in collaborative projects that
advance the broader development goals of the United Nations and aid the communities in which we work," says Arti Sharma, Director of Operations, Ecofav.

Maximizing the Beneficial Impact Business have on the Planet
Since its inception in 2017, Ecofav has worked with many Global companies delivering innovative solutions for clients, helping them understand and manage the sustainability challenges that the world is increasingly facing today.

ECOFAV works exclusively with all the aspects of the financial services sector, from banks and development institutions to asset managers such as private equity and their portfolio companies and asset owners, including pension funds, insurers, and Sovereign Wealth Funds. The Consultancy firm has a range of services to help its clients in the financial services industry to address strategic, tactical, and operational opportunities and risks arising from ESG factors. These include:

• ESG strategy, policy and implementation framework and related advisory services;
• Transaction Advisory Services (Mergers & Acquisitions, Sell-side due diligence, Equator Principles due diligence and monitoring, post-merger and post-acquisition integration, Impact analysis, liability and compliance assessments)
• Sustainability/ESG reporting and disclosure, ESG ratings/rankings, Investor engagement
• Portfolio analysis and strategy
The feather in the cap for Ecofav came in the year 2019 when Adani Green Energy Limited (AGEL) ­ the world's number one solar power generation asset owner engaged ECOFAV to assure its first-ever Value-Creation report. With AGEL's presence across 11 Indian states and with a portfolio of 46 operational projects and 18 projects under construction, the data verification was a challenging task. However, coping with the challenges, ECOFAV has completed the assessment in a record time of 1 month, which included multiple site visits. This ultimately resulted in Adani Green Energy Limited recognizing Ecofav as a "partner in success" via a letter of appreciation.

Established in the year 2017, Ecofav has enjoyed robust business growth both in terms of customer trust, revenue, and profitability, in a short span of three years

Ecofav is built around the power of connected expertise and collaboration to reimagine and create new potential for built and natural environments. "Together, we strive to make a lasting and positive impact on society and the environment that will make a difference for future generations. The expertise, passion, and thought leadership of our talented people around the world makes our success possible," reiterates Arti Sharma, Director of Operations, Ecofav.

Accolades & Recognitions:
Appreciation letter for "Sustainability Report Assurance Year 2019" by Adani Green Energy Limited

Appreciation letter for "Structuring Internationally Compliant Environmental and Social Management System and Excellent Training Services" by THINK Gas Distribution (An Emerging Natural Gas Infrastructure Developer of India, funded by I Squared Capital, Singapore.

Recommendation letter of good faith by Adani Green Energy Limited for offering excellent performance in offering various ESG Services for their operational, under construction and in planning renewable energy projects.

Sanjay Sharma, Chief Executive Officer
Mr. Sanjay Sharma holds an M. Tech. degree in Energy Management from the Devi Ahilya University of Indore, India. He is a young and seasoned professional through its proven track record within Corporate financing, Investment advisory, Due diligence, especially within Asian Renewable Energy & Climate Change sector worldwide. He has extensive experience working across 300+ESG Due Diligences and played a lead role in numerous Large-Scale Investment Dealings.

Shikha Gupta, Head ­ ESG Division
Ms. Shikha Gupta holds an MSc. degree in Environmental Sciences from the Amity University of Noida, India. She is an experienced Sustainability strategist with a demonstrated history of working in the Renewable Energy sector. Skilled in Sustainability Management, Triple Bottom Line Reports & Disclosures, Governance & Policy Frameworks, ESG & Sustainable Financing, ESMS Risk Management, and Investor communications.

Arti Sharma, Director of Operations
Ms. Arti Sharma holds a Master's degree in Economics from the Jiwaji University of Gwalior, India. She is an experienced professional with a demonstrated history of working in the Education, CSR, and Infrastructure sectors across cross functions including Finance and HR. In Ecofav she is responsible to design, plan and implement business strategies, plans and procedures and sets comprehensive goals for business growth and success of the organization. She is also responsible to establish policies and procedures that promote company culture and vision aligned with United Nations Sustainable Development Goals and India's Vision 2030.